Anyone work at Thumbtack and worried about layoffs? With the housing industry being negatively impacted in these economic times, I anticipate people arent looking for service professionals either #layoff
I'm not worried. We are still growing revenue significantly YoY. Even accounting for a major pullback in consumer spending, we will still be growing. Our hiring plans have been tempered, but there is no hiring freeze in place. We are still backfilling all departures. Thumbtack has significant cash reserves and is in a very good position to weather any downturn. So glad I am here rather than some of the other startups I considered jumping to last year.
Not worried
They are pulling back on hiring sales people, layoffs coming soon for sure
No layoffs just reduced hiring. Eng layoffs will not happen, I guarantee it
Based on what data/observation?
Revenue is fine, we raised money last year so we're in good financial shape. We were behind on eng hiring plans already so it's not like we over-hired. Layoffs wouldn't make any business sense and would tank morale.
What about the looming recession? Because a lot of people arent spending big $$$, there might be a shortage of people looking for things like a pro.
Demand will likely go down somewhat but not enough to truly imperil the business. We are actually much stronger in smaller jobs (electrical repair, TV mounting, tree trimming) than big, discretionary improvements like bathroom remodels anyway. If something in your house breaks and you need it fixed, you're going to get it fixed. There's also a counter-cyclical feedback effect where as macro demand drops, pros need us more because they aren't getting as much word of mouth business, so they are willing to pay us more for the business. We still have lots of markets that are supply-constrained.
need DM for Thumbtack
Layoff of recruiters is happening. Would there might larger round of layoff?
No. Headcount is flat next year so we only need a few recruiters for backfilling - hence the recruiter layoffs.
Got it thanks for this reply! It is just sad to see those recruiter working for company were let go. Some people may think laying off the department recruiter is one step towards laying off the department people though…
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$10 says that a lot of people that said they worry aren’t working at Thumbtack
$20 says a majority of the "Yes" votes don't actually work for Thumbtack
This aged well @jmuU65